Can I retire at age 60 with 650,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $650,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$53,676$53,198$52,732$52,276$51,832$50,395
2 years$26,572$26,078$25,598$25,133$24,682$23,245
3 years$17,539$17,042$16,564$16,103$15,659$14,267
4 years$13,023$12,528$12,054$11,601$11,168$9,832
5 years$10,314$9,822$9,354$8,911$8,490$7,213
6 years$8,509$8,020$7,560$7,126$6,718$5,501
7 years$7,220$6,735$6,282$5,859$5,463$4,307
8 years$6,254$5,773$5,328$4,915$4,532$3,436
9 years$5,503$5,027$4,589$4,186$3,817$2,780
10 years$4,902$4,431$4,001$3,609$3,252$2,273
11 years$4,411$3,945$3,522$3,141$2,797$1,873
12 years$4,002$3,540$3,126$2,755$2,424$1,555
13 years$3,656$3,200$2,793$2,432$2,114$1,297
14 years$3,360$2,908$2,509$2,159$1,853$1,086
15 years$3,104$2,657$2,266$1,925$1,631$913
16 years$2,880$2,438$2,054$1,724$1,442$770
17 years$2,682$2,245$1,869$1,549$1,278$651
18 years$2,507$2,074$1,706$1,396$1,137$551
19 years$2,350$1,923$1,562$1,261$1,013$467
20 years$2,209$1,786$1,433$1,142$905$397
21 years$2,082$1,664$1,319$1,037$810$338
22 years$1,966$1,553$1,215$943$726$287
23 years$1,861$1,453$1,122$858$652$245
24 years$1,764$1,361$1,038$783$586$209
25 years$1,676$1,277$961$715$527$178
26 years$1,594$1,201$891$654$475$152
27 years$1,519$1,130$828$598$428$130
28 years$1,449$1,065$769$548$386$111
29 years$1,384$1,004$716$503$349$95
30 years$1,323$949$667$461$315$81
31 years$1,267$897$622$424$285$69
32 years$1,214$848$580$390$258$59
33 years$1,164$803$542$358$233$51
34 years$1,117$762$506$330$211$43
35 years$1,074$722$473$303$191$37
36 years$1,032$686$443$279$173$32
37 years$993$651$414$257$157$27
38 years$957$619$388$237$142$23
39 years$922$588$364$219$129$20
40 years$889$560$341$202$117$17
41 years$857$533$319$186$106$15
42 years$828$508$300$172$96$12
43 years$799$484$281$159$87$11
44 years$772$461$264$146$79$9
45 years$747$440$248$135$72$8
46 years$722$419$233$125$65$7
47 years$699$400$219$115$59$6
48 years$676$382$206$107$54$5
49 years$655$365$193$99$49$4
50 years$635$348$182$91$45$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $650,000, adding $2,798 every year, while hoping to spend $43,015 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 57/13/30 Blend
59$650,000$650,000$650,000$650,000
60$719,186$684,736$674,661$754,091
61$746,775$672,521$651,495$766,200
62$775,737$658,265$626,110$774,685
63$806,166$641,823$598,389$783,072
64$838,165$623,042$568,204$791,366
65$871,845$601,759$535,427$799,575
66$907,328$577,800$499,919$807,709
67$944,748$550,984$461,538$815,782
68$984,247$521,118$420,135$823,812
69$1,025,984$487,997$375,553$831,824
70$1,070,131$451,405$327,631$839,843
71$1,116,875$411,114$276,197$847,906
72$1,166,421$366,883$221,074$856,051
73$1,218,993$318,457$162,077$864,329
74$1,274,835$265,567$99,011$872,796
75$1,334,216$207,927$31,676$881,518
76$1,397,428$145,238$0$890,574
77$1,464,792$77,180$0$912,917
78$1,536,659$3,421$0$947,443
79$1,613,413$0$0$984,196
80$1,695,478$0$0$1,034,318
81$1,783,314$0$0$1,088,525
82$1,877,429$0$0$1,146,645
83$1,978,378$0$0$1,209,027
84$2,086,771$0$0$1,276,053
85$2,203,279$0$0$1,348,142
86$2,328,636$0$0$1,425,755
87$2,463,649$0$0$1,509,398
88$2,609,204$0$0$1,599,626
89$2,766,274$0$0$1,697,050
90$2,935,931$0$0$1,802,340
91$3,119,349$0$0$1,916,234
92$3,317,819$0$0$2,039,542
93$3,532,763$0$0$2,173,155
94$3,765,742$0$0$2,318,052
95$4,018,473$0$0$2,475,311
96$4,292,844$0$0$2,646,115
97$4,590,932$0$0$2,831,769
98$4,915,022$0$0$3,033,706
99$5,267,628$0$0$3,253,502
100$5,651,514$0$0$3,492,895